De Test (Master)

#1 a) Go to 1stbankyuma.com 1stbankyuma.com.. List what products products they offer offer to consumers. (Example: checkin accounts) Personal Loans: -Installment Loans; -Personal Line of Credit; -Savings & TCD Secured Loans; -Personal Secured Loans; -Conventional Mortgage Loans, Home !uit" & Im#rovement Loans; Personal C$ec%ing ccounts; Personal Savings ccounts; 'usiness Loans: -Commercial(Small 'usiness Loans; -)#erating Lines of Credit; -Commercial & *esidential Construction Loans; -+overnment Loan Programs; -gricultural Production Loans; C$ec%ing ccounts; #1 b) !o they also offer car loans to consumers" es ,t$e" offer #ersonal secured loans loans $ic$ includes t$e uto uto loans.

#1 c) ind the $%& and 'nterest ate of the 1 st ate ewards heckin $ccount. *ote: +ention all important aspects and  please provide the link where you found the information. 1st ate ewards heckin Minimum Balance $25,000.01 , Interest ate .05 and the !"# is .05over $25,000 % and &.00 ' !"#  paid on (alances up to $25,000% . Monthly Requirements Must Be Met  1 )irect )eposit, *nline Bankin+, eceive statements, and 15 "* transactions transactions per statement cycle. cycle. !"# / !nnual "ercenta+e #ield. If account does not meet reuirements durin+ monthly cycle a .05' !"# will (e earned on the entire (alance. $100 minimum openin+ deposit. o minimum (alance reuired. o monthly service char+e. Must (e a #uma ounty resident to open this account.%

http344www.1st(ankyuma.com4ates.asp

#, ead this wikipedia.or . -ased on the first formula listed on the pae calculate a checkin account/s $%& if the interest rate was 1.02 and it was compounded daily for one year. *ote: "lease write out the eact formula and the inputs that you used in order to come to the final answer.

  i  APY  =  / +   N   

nom

 N 

    − /    

637

  /.64   −/ = 5,012304 2  APY  = / +     637  

#0 a) Go to capitalone.com. List the interest rates for their money market accounts. *ote: %lease also provide the link where you found the information.

I didn6t find the list with the interest rates.

#0 b) Go to

wachovia.com 

enterin ,,,31 as your 4ip code.

!oes the 5ay,6a7e sa7ins account ha7e any restrictions or special re8uirements" 'f so please list them below.

Minimum openin+ deposit 3 $257 Monthly service fee waived when you select one of these options3 - Maintain a $&00 minimum daily (alance, or et up and maintain one or more automatic, recurrin+ savin+s options *therwise $5

# a) Go to firstambank.com and list all the mortae products we need to include for a loan9to97alue e8ual to 32.

8his product isn6t availa(le for consumer.

# b) Go to unionsa7ins.com . List all the saving products with the most fixed interest rate, regardless of account balance.

ertificates of )eposit )s% 9addered ertificates of )eposit )s%  with 3 Year Package and 5 Year Package %

#; Go to bankofthewest.com out find out the maximum number of <7erdrafts that a

customer will be chared in one day for Easy checkin account. )verdraft #rotection it$ a lin%ed savings or +old Line account. +old Line account #rovides a line of credit t$at advances funds to "our c$ec%ing account in increments of 871 to cover overdrafts. Total availa9le overdraft coverage is determined 9" t$e credit limit.